Why now isn’t the time to reduce your marketing spend

For example, I was having a conversation with a friend who wants to start using email marketing to promote their events (because social media isn’t getting them the results they need).

They have a small email list but it’s pretty engaged. And when they DO send out emails, they make sales – they just want to know how to make more.

But they’re scared to invest a few hundred pounds in getting better at email marketing when they (a) could easily make back that money in a couple of emails (b) save MONTHS trying to figure stuff out an expert could teach them in a few hours and (c) make thousands more in the long run.

So not investing in further training/support could potentially lose them revenue.

Sharing this because I know it can feel scary to invest in training/support for your business in unpredictable times.

When actually it’s times like now when we ought to be thinking about how we can invest MORE in the right training/support for our businesses.

While your appetite for risk in business can impact on your growth, I’m not talking about taking silly risks and/or buying online programmes you don’t need.

But in unpredictable economic times, investing in high quality products/services that help you implement things you don’t know how to do – or need to do better in your business – and do it fast – it’s actually a smart thing to do.

And it’s what big businesses do – Coca Cola and Singapore Airlines are just two of a number of big brands mentioned in a Harvard Business Review article on this topic by two leading marketing academics (I’ll link to it in the shownotes).